What to Watch in the Day Ahead - Wednesday, Dec 23

Reuters Staff

2 Min Read

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Consumer spending likely picked up in November as households loosened purse strings at the start
of the holiday shopping season, which could boost growth prospects for the fourth quarter.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, likely
rose 0.3 percent last month, according to a survey of economists, after edging up 0.1 percent in
October. Meanwhile, data is expected to show non-defense capital goods orders, excluding
aircraft, a closely watched proxy for business spending plans, slipped 0.1 percent in November.
(0830/1330) In a separate report, the final December reading of University of Michigan's
consumer sentiment index is expected to rise to 92 from a preliminary reading of 91.8 reported
earlier this month. (1000/1500)
Canada's economy is expected to have picked up by 0.2 percent in October after a disappointing
decline in September. After the economy pulled out of recession in the third quarter, early data
has suggested the final quarter of the year got off to a weak start. Separately, retail sales
are projected to have gained 0.4 percent in October, offsetting a 0.5 percent decline the month
before. (0830/1330)
Brazil's central bank will release its economic growth and inflation projections for the next
two years. In the quarterly report, the bank could also provide more guidance on its future
monetary policy steps.
(Compiled by Hardik Vyas in Bengaluru; Editing by Savio D'Souza)